Real Estate Blog

4 Reasons First Home Buyers Should Talk to a Financial Planner

When you’re looking to buy your first home, it can feel like an overwhelming experience. Trying to prepare for your home loan application can be stressful, but there are definitely things you can do to make purchasing your first house a lot easier. For the ultimate in peace of mind, here are 5 reasons why you should talk to a financial planner when you’re a first home buyer.

Save Your Deposit Faster

Getting a deposit together can be a difficult task, and ensuring that your application is successful relies on having a strong financial position to show your lender. With all of this in mind, it’s easy to see why so many first home buyers choose to consult a financial planner to help them get the place of their dreams. A financial planner will work with you to optimise your funds, and help you to get your deposit saved sooner.

Diminish Your Debt

Financial planners specialise in helping you to reduce your debts and get on track with your finances. When you’re thinking of buying your first home, you’ll need to make sure that your credit rating is in the best possible shape, and this will involve eliminating as much of your current debt as possible.

Best Budgeting Techniques

The benefit of working closely with a financial planner is that their services encompass all aspects of your finances, including your budget. Budgeting isn’t easy, and this is where your planner can really help to create an individualised and effective budget that will perfectly suit your needs and goals. Having a great budget allows you not only to save your deposit faster, it sets you up with all of the skills that you need to keep your financial situation secure over the long term.

Secure Your Financial Future

Talking to a financial planner is one of the best ways to ensure that you enjoy long term stability both before and after you buy your first home. It isn’t a quick fix solution, instead a financial planner can give you strategies that will continue to benefit you well after the purchase of your house. With a great budget, consolidated debts and a clear set of goals, you will be able to adapt to having a mortgage and all of the other financial challenges that home ownership brings. When you consult a financial planner, you are investing in your future.

Enlisting the help of a professional financial planner can seriously help you in your quest to buy your first home. Not only are you strengthening your financial position, you are setting in place strategies and habits that will continue to reward you in the future. For more information on getting the most out of your money and eradicating your debt, check out Get a head start on buying your first home, and invest in a financial planner today.

Amanda is a realestate agent from Brisbane, Australia. She loves helping young people purchase their first property and put together this list of tips to help first home buyers get their personal finances in order. 

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